Shamaran Petroleum Ltd. · OSL:SNM
Shamaran Petroleum — Pareto Securities' 16th annual E&P Independents Conference 2021
15 slides from Shamaran Petroleum's conference presentation, Mar 25, 2021
Slide 1: Pareto Securities' 16th annual E&P Independents Conference
Pareto Securities’ - 16th annual E&P Independents Conference March 25th 2021 SHAMARAN www.shamaranpetroleum.com petroleum corp
Slide 2: 2020 Atrush Highlights
2020 Atrush Highlights TSX.V: SNM; Nasdaq First North Growth Market: SNM 16.5MM Record production year in 2020 45.5K Year on Year Production increase 2020 vs. 2019 (32.5K bopd) 80% 2020 CAPEX Reduction, Strategic response to global challenges 31% US$/boe Lifting Costs Reduction - $7.33 to $5.08 2019
Slide 3: Shamaran in Kurdistan
Shamaran in Kurdistan ShaMaran is an E&P company active in Kurdistan Region Atrush Location Kurdistan’s oil industry now well established • Significant reserves and resources • Largely stable political situation • Export route to Mediterranean via Turkish port of Ceyhan ShaMaran has 27.6% interest i
Slide 4: HSE – Returning to Normal Operations in 2021
HSE – Returning to Normal Operations in 2021 2020: Reacting to the Global Pandemic • Minimization and deferment of non-critical field activities to reduce exposure potential • Reduction to minimum staff levels with demobilization of non production-critical staff • Preparation of COVID-compliant 2021
Slide 5: 2021 Guidance
2021 Guidance • Atrush field gross average daily production expected to range from 39,000 barrels of oil per day (“bopd”) to 44,000 bopd • Expected to generate quarter-on-quarter production growth with increasing contribution of heavy oil • Atrush capital expenditures for 2021 at US$53.2 million (55
Slide 6: Atrush – Asset Development Strategy
Atrush – Asset Development Strategy Deliver Full Asset Value Position to Deliver Value 2021+ Debottleneck & Mature 2021 Resource Base 2019-2020 Implement “integrated oil column” development plan Start-up Return to normal operations Capacity following COVID impact Drill and complete additional
Slide 7: KRG Payments
KRG Payments KRG loans, receivables and cost Revenue payment uncertainty easing oil as of 31st December 2020* (presented in million USD) • Resumption of timely and consistent payments from KRG for oil deliveries in March to December 2020 • Repayment of $41.7MM owed for November 2019 to February 2020
Slide 8: Successful Amendments of ShaMaran Bonds
Successful Amendments of ShaMaran Bonds Liquidity shortfall successfully resolved in July 2020 with bondholders: • Funds from full drawdown of Liquidity Guarantee (provided by Nemesia Sàrl, Lundin family trust entity) that timely paid in full July 2020 bond interest and remaining funds supported tim
Slide 9: ESG
ESG www.shamaranpetroleum.com/company/esg/ Environmental Focus • Proper disposal of all produced water • Effective waste management program • Timely remediation of all impacted locations • Plan to eliminate flaring and emissions via gas sweetening project Social Focus • Staff localization levels cur
Slide 10: Outlook
Outlook Focus on Organic Growth and Optimization of Operations • Resumption of suspended capital programs to deliver quarter on quarter growth • Focus on full realization of resource base through implementation of Integrated Oil Column development concept Focus on Financial Resilience • KRG payments
Slide 11: Cautionary Statements
Cautionary Statements This presentation contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as legal and political risk, civil unrest, general economic, market
Slide 12: Appendix
Pareto Securities’ - 16th annual E&P Independents Conference Appendix SHAMARAN petroleum corp
Slide 13: Management and Board of Directors
Management and Board of Directors Chris Bruijnzeels – Chairman and Director William A.W. Lundin – Director Over 35 years of experience in the oil and gas industry Mr. Lundin is the Chief Operating Officer of including Senior Vice President Development of International Petroleum Corp. (“IPC”), an Lun
Slide 14: ShaMaran, a Lundin Group company
ShaMaran, a Lundin Group company USD 21.2 billion - combined market cap of Lundin Group [ 13 ]
Slide 15: Corporate Profile
Corporate Profile Major shareholders Share Capital • Lundin family trusts 22.9% • Shares issued and outstanding 2,189,714,867 • Directors/Management 0.6% Market Capitalization Trading Information • CAD 131 million (@ 18 March 2021) • TSX Venture TSX-V:SNM Net Debt • NASDAQ First North Growth (Sweden
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